Zimbabwe Inflation "Incalculable" (100,000% Inflation By Year's End Alert)

http://news.bbc.co.uk/2/hi/africa/7115651.stm ^ | 11/27/2007 | BBC News

[goldstategop]

A country looking at 100,000% inflation by year's end. In which a business loan is available at 25% interest. Zimbabwe's mega-inflation is not only statistically incalculable, its a portrait of a nation that is in a state of economic collapse. Basic goods are not available at any price there.

"Show me just what Mohammed brought that was new, and there you will find things only evil and inhuman, such as his command to spread by the sword the faith he preached." - Manuel II Palelologus

[lapster]

If per horrible chance Obama is ever elected president, we may end up living in Zimbabwe West.

[Petronski]

First reference to Weimar Republic wins a prize.

Oh wait, that’s me!

I will pay myself ten silver coins.

[onja]

Just wow.

[goldstategop]

15,000% a month. The Zimbabwean dollar is worthless - even the bricks people used to carry. Its just as well since there is nothing to buy in the country.

"Show me just what Mohammed brought that was new, and there you will find things only evil and inhuman, such as his command to spread by the sword the faith he preached." - Manuel II Palelologus

[dynachrome]

The Germans were pikers compared to the Zim thugs.

[dynachrome]

It’s been a barter economy for awhile.

Somewhere, Ayn Rand smiles.

[hoosierham]

It will improve as soon as Mugabe and his thugs are gone.

Communists,socialists Marxists;they all ignore human nature and economic reality.

The biggest slavery to ever exist in the world is various forms of communism.

[canuck_conservative]

“in a bid to stem galloping inflation”

Well that government plan didn’t work out too well, did it?

[television is just wrong]

you got that one right.

[Blood of Tyrants]

Maize meal, bread, meat, cooking oil, sugar and other basic goods used to measure inflation largely disappeared from shops after Robert Mugabe's government ordered prices to be slashed.

Manufacturers have said they cannot afford to sell goods at below the cost of producing them.

This is Atlas Shrugged come to life. A MUST READ for all conservatives everywhere.

[goldstategop]

Price controls don't work. They don't even treat the symptoms that made the patient sick. The patient isn't sick but is near death.

"Show me just what Mohammed brought that was new, and there you will find things only evil and inhuman, such as his command to spread by the sword the faith he preached." - Manuel II Palelologus

[edcoil]

Its Bush and Americas fault.

[Finalapproach29er]

They got the white farmers though!- that’s what the blacks wanted even more than prosperity for themselves.

They destroyed the very people that could have taught black farmers how to succeed.

A grim lesson in the effects of racial hate over cooperation.

[Petronski]

Near the peak of the Weimar crisis, banks used rubber stamps to add 000 to the notes, trying to keep up.

[Moonman62]

The catalyst for their inflation was dwindling supply. I wish all central banks would study that phenomenon.

[Moonman62]

Last month, the central bank offered loans, known as Bacossis, to businesses at 25% interest to restore supplies to shops, AP news agency reports.

A person could make good money with a loan like that. Buy goods and wait a few days to sell them, pay off the loan and interest with money left over, but the profit would have to be spent quickly.

[dfwgator]

It’s almost as bad as the Planet Algon:

This is the planet Algon, fifth world in the system of Aldebaran, the Red Giant in the constellation of Sagittarius. Here an ordinary cup of drinking chocolate costs four million pounds, an immersion heater for the hot-water tank costs over six billion pounds. and a pair of split-crotch panties would be almost unobtainable. A simple rear window de-misting device for an 1100 costs eight thousand million billion pounds and a new element for an electric kettle like this would cost as much as the entire gross national product of the United States of America from 1770 to the year 2000,

[Qwinn]

“A country looking at 100,000% inflation by year’s end. In which a business loan is available at 25% interest.”

Wow. Sounds like a pretty sweet deal to me. Borrow the equivalent of $10,000 in zimbabwean currency, convert it to $10,000 immediately, and in a year convert $15 dollars back into zimbabwean currency and pay the loan back in full.

Qwinn

[dynachrome]

Printed on only one side to save money.